For Sale
$775,000

1671 Michigan Ave Clinton, MI 49236

Multi-tenant medical office, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
132
Exceptional investment opportunity: This multi-tenant medical office building in Clinton, Michigan, presents a compelling value-add proposition. Located at 1671 W Michigan Ave, this property boasts 7,500 square feet across two single-story buildings on a 2.04-acre lot. Built in 2001, the property currently enjoys 100% occupancy with four tenants under a gross lease structure, generating a substantial net operating income (NOI) of $56,360 and a 7.27% cap rate. The asking price is $775,000, translating to $103.33 per square foot. This prime location offers excellent visibility and accessibility, situated in a high-traffic area with convenient access to major roads. The property's resilience is further enhanced by its medical office tenant base, providing a stable income stream and reduced risk of tenant turnover. The strong healthcare demand and established market presence of the tenants contribute to the long-term security and consistent returns of this recession-proof asset. This is a rare opportunity to acquire a well-performing medical office building with significant upside potential.

Highlights

  • 100% Occupancy: Fully leased building.
  • Stable Income Stream: Strong, reliable income from a financially sound healthcare tenant.
  • Low Tenant Turnover Risk: Long-term lease with an established healthcare provider.
  • Prime Location with High Visibility: High-traffic area with excellent visibility.
  • Convenient Access: Easy access to major roads and public transportation.
  • Strong Location Amenities: Near residential areas and commercial businesses.

Property Details for 1671 Michigan Ave

Property type
Office properties, Medical offices
Square Feet
7,500 SF
Year Built
2001
Buildings
2
Stories
1
Lot Size (sq. ft)
88,862 SF
Units
4

Location Insight

City
Clinton
County
Lenawee
State
Michigan
Latitude
42.0706215
Longitude
-83.9855032

FAQs

What type of property is this?
Office property - Multi-tenant medical office, strong NOI.
Where is the office property located?
The property is located at 1671 Michigan Ave Clinton, MI.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 100% Occupancy: Fully leased building.; Stable Income Stream: Strong, reliable income from a financially sound healthcare tenant.; Low Tenant Turnover Risk: Long-term lease with an established healthcare provider.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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1671 Michigan Ave
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